ANKIT UPADHYAY Vs. IDBI LIMITED

JUDGEMENT

(1.) HEARD .

(2.) PERUSAL of bond bears testimony to the fact that IDBI shall have the option to redeem the bonds on any of the following dates as per deemed face value mentioned:

(3.) IT was in keeping with this scheme, both the complainants made application to the IDBI on 7.6.2007 for premature encashment of their bonds. It was at this juncture that the two subscribers were apprised that the company had already redeemed the bond on August 1, 2000 and only a sum of Rs. 10,000 per bond was payable. This amount was however not released in favour of the subscribers.